US Bancorp DE Reduces Stake in Zimmer Biomet Holdings Inc (ZBH)

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US Bancorp DE reduced its position in Zimmer Biomet Holdings Inc (NYSE:ZBH) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,350 shares of the medical equipment provider’s stock after selling 1,501 shares during the period. US Bancorp DE owned approximately 0.07% of Zimmer Biomet worth $18,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. First National Trust Co purchased a new position in shares of Zimmer Biomet in the 3rd quarter worth $224,000. 1ST Source Bank boosted its stake in shares of Zimmer Biomet by 3.4% in the 3rd quarter. 1ST Source Bank now owns 14,651 shares of the medical equipment provider’s stock worth $1,926,000 after buying an additional 476 shares during the last quarter. Regentatlantic Capital LLC lifted its position in Zimmer Biomet by 13.4% during the third quarter. Regentatlantic Capital LLC now owns 51,801 shares of the medical equipment provider’s stock valued at $6,810,000 after purchasing an additional 6,114 shares in the last quarter. Biechele Royce Advisors lifted its position in Zimmer Biomet by 3.8% during the third quarter. Biechele Royce Advisors now owns 44,758 shares of the medical equipment provider’s stock valued at $5,884,000 after purchasing an additional 1,628 shares in the last quarter. Finally, Palladium Partners LLC purchased a new position in Zimmer Biomet during the third quarter valued at $254,000. Hedge funds and other institutional investors own 86.28% of the company’s stock.

NYSE:ZBH opened at $115.04 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 0.96 and a debt-to-equity ratio of 0.70. The stock has a market cap of $23.43 billion, a price-to-earnings ratio of 14.33, a price-to-earnings-growth ratio of 2.33 and a beta of 1.16. Zimmer Biomet Holdings Inc has a 52 week low of $104.28 and a 52 week high of $134.55.

Zimmer Biomet (NYSE:ZBH) last posted its quarterly earnings results on Friday, October 26th. The medical equipment provider reported $1.63 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.03. The business had revenue of $1.84 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Zimmer Biomet had a return on equity of 12.88% and a net margin of 22.42%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $1.72 earnings per share. As a group, analysts predict that Zimmer Biomet Holdings Inc will post 7.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were issued a dividend of $0.24 per share. The ex-dividend date was Thursday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 0.83%. Zimmer Biomet’s dividend payout ratio is presently 11.96%.

Several research firms recently weighed in on ZBH. Zacks Investment Research downgraded Zimmer Biomet from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Piper Jaffray Companies lifted their target price on Zimmer Biomet from $110.00 to $120.00 and gave the company a “neutral” rating in a research report on Monday, July 30th. ValuEngine upgraded Zimmer Biomet from a “sell” rating to a “hold” rating in a research report on Wednesday, July 25th. Jefferies Financial Group lifted their target price on Zimmer Biomet to $145.00 and gave the company a “buy” rating in a research report on Monday, July 30th. Finally, Needham & Company LLC lifted their target price on Zimmer Biomet from $146.00 to $150.00 and gave the company a “strong-buy” rating in a research report on Monday, July 30th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $133.86.

In other Zimmer Biomet news, VP Chad F. Phipps sold 30,100 shares of the firm’s stock in a transaction dated Friday, September 21st. The stock was sold at an average price of $132.37, for a total transaction of $3,984,337.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Bryan C. Hanson purchased 410 shares of the firm’s stock in a transaction on Friday, August 31st. The shares were acquired at an average cost of $123.03 per share, for a total transaction of $50,442.30. Following the completion of the acquisition, the chief executive officer now owns 25,487 shares of the company’s stock, valued at $3,135,665.61. The disclosure for this purchase can be found here. 0.71% of the stock is owned by company insiders.

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About Zimmer Biomet

Zimmer Biomet Holdings, Inc, together with its subsidiaries, designs, manufactures, and markets musculoskeletal healthcare products and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates through four segments: Spine, less Asia Pacific; Office Based Technologies; Craniomaxillofacial and Thoracic; and Dental.

See Also: Return on Investment (ROI)

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Institutional Ownership by Quarter for Zimmer Biomet (NYSE:ZBH)

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